Wow, now this is called Write-Off rather in junk Car terms, this should be labeled as “Totaled”
AOL is close to selling Bebo to an investor group, we’ve confirmed from a source close to the company. The price? $10 million or less. Rumors of the acquisition first surfaced this morning, and the buyer may be Criterion Capital Partners.
That’s just a bit less than the $850 million AOL paid for the social network in 2008. And as decimated as Bebo is, it’s almost certainly worth more than $10 million.